Practice Management Systems Market Set to Register healthy CAGR During 2020-2027
Category: #reports  By Ashwin Naphade  Date: 2020-03-16
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Practice Management Systems Market Set to Register healthy CAGR During 2020-2027

The newly released research at Market Study Report titled “2020-2027 Practice Management Systems Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

The global practice management systems market is expected to reach US$ 6,740.84 Mn in 2027 from US$ 3,143.76 Mn in 2019. The market is estimated to grow with a CAGR of 10.2% from 2020-2027.

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Some of the major primary and secondary sources for Practice Management Systems included in the report are Centers for Disease Control and Prevention (CDC), USFDA, Healthcare Information and Management Systems Society, contract research organizations, and among others.

Global practice management systems market, based on the component, is segmented into software and services. In 2019, the software segment held the largest share of the market, by component. In addition, the segment is also expected to grow at the fastest rate during the coming years.

Global practice management systems market, based on the delivery mode, is segmented into web-based, cloud-based, and on-premise delivery mode. In 2019, the web-based segment held the largest share of the market, by delivery mode. Cloud-based segment is also expected to grow at the fastest rate during the coming years owing to increasing adoption of the cloud technology.

Global practice management systems market, based on the product, is segmented into Standalone Systems and Integrated Systems. In 2019, the Standalone Systems held the largest share of the market, by product. Also, integrated systems segment is expected to grow at the fastest rate during the coming years owing to increasing adoption of integrated systems across the globe.

In 2019, standalone systems held a largest market share of 67.75% of the practice management systems market, by product. However, integrated solutions are expected to register higher CAGR by 2027.

Chronic diseases such as stroke, heart diseases, diabetes, and obesity are the leading causes of death in the world, and they account for most of the nation’s health care costs. According to the report of the Centers for Disease Control and Prevention (CDC), >9% of the population was suffering from diabetes, in 2018, which is a leading cause of kidney failure, lower-limb amputations in the US. Moreover, the data also suggested that ~1.5 million Americans are identified with diabetes in the US, every year. The similar trend of increasing prevalence of diabetes is widespread in other regions, including Europe, APAC, and the MEA. For instance, in 2017, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), Southeast Asia is a home to ~19% of the total diabetes population worldwide. As per the IDF, in 2017, North America reported ~46 million of people with diabetes, which is expected to reach 62 million by 2045.

The growth of the practice management systems market is primarily attributed to the factors such as increasing prevalence of chronic diseases, growing burden of patients, and focus on proving quality care in affordable costs. However, factors such as concerns of data privacy and lack of healthcare infrastructure in emerging nations are likely to pose a negative impact on the market growth. On the other hand, growth opportunities in emerging regions are likely to have a positive impact on the growth of the global practice management systems market during the forecast period. With a rise in cases of chronic illnesses such as diabetes, cancer, and inflammatory diseases, the healthcare domain is exponentially increasing patient population across the globe. Moreover, increasing emphasis on automation of administrative tasks in healthcare is projected to offer lucrative opportunity for the growth of the global practice management systems market. Asia Pacific is anticipated to offer significant growth opportunity during the forecast period, due to an increase in the healthcare-IT spending in leading economies such as Japan, China and India.

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Table of Content:

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Practice Management System Market - By Product

1.3.2 Global Practice Management System Market - By Delivery Mode

1.3.3 Global Practice Management System Market - By Component

1.3.4 Global Practice Management System Market - By Geography

2. Global Practice Management System Market - Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Practice Management System- Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 North America - PEST Analysis

4.2.2 Europe: PEST Analysis

4.2.3 APAC: PEST Analysis

4.2.4 Middle East & Africa - PEST Analysis

4.2.5 South & Central America - PEST Analysis

4.3 Expert Opinion

4.4 Number of Potential General Physician Facilities for Practice Management System, By Country

5. Practice Management System Market - Key Dynamics

5.1 Key Drivers

5.1.1 Rising Pressure on Healthcare Institutions to Provide Quality Health at Reduced Costs

5.1.2 Rising Prevalence of Chronic Diseases

5.2 Key Market Restraints

5.2.1 Concerns Regarding Data Privacy

5.3 Key Market Opportunities

5.3.1 Growing Use of Smartphones

5.4 Future Trends

5.4.1 Remote Monitoring Would Soon Eliminate Patients’ Routine Visits to Hospitals

5.5 Impact Analysis

 

For More Details on this Report:

https://www.marketstudyreport.com/reports/practice-management-systems-market-to-2027-global-analysis?utm_source=itrsrch&utm_medium=Vipin

 

Related Report:

Global Practice Management Systems Market Size, Status and Forecast 2019-2025

In 2018, the global Practice Management Systems market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of  during 2019-2025. This report focuses on the global Practice Management Systems status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Practice Management Systems development in United States, Europe and China.

https://www.marketstudyreport.com/reports/global-practice-management-systems-market-size-status-and-forecast-2019-2025?utm_source=itrsrch&utm_medium=Vipin   

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About Author

Ashwin Naphade

Email: [email protected]   

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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